Boston Scientific's (BSX Quote) holding the exit door wide open, but what remains to be seen is whether Johnson & Johnson (JNJ Quote) will walk through it or stick around for a fight.
Hardly a month ago, J&J was about to be dragged into court for threatening to abandon would-be merger partner Guidant (GDT Quote) after saying their $76-a-share agreement was no longer tenable. Eventually the two sides agreed to get along, and they worked out a new deal that valued Guidant north of $63 a share.
Meanwhile, Boston Scientific was laying its own plans, and its strategy is a secret no more. By swooping in Monday with a proposal to buy Indianapolis-based Guidant for $72 a share, Boston Scientific now threatens to leave the formerly reluctant J&J as the odd man out. ...
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